>>steve: bad news. downgraded illinois has sunk to the bottom of the credit heap as the s&p gives illinois the worst rating of all 50 states in the united states of america. credit agencies have been yelling at the prairie state officials to get their act together to conform out-of-control pensions crippling the states. stuart varney is here. this can't surprise you, can it? >> no. pension costs out of control that don't have the money to pay their obligations, and everybody knows it. the rating agencies know it, so they downgrade them. that means that when illinois comes to borrow money -- and they're going to try to borrow money in the next couple of days, maybe $500 million. >>steve: from who? >> anybody who will lend it to them. the people who will lend it to them, floating bonds, will say, wait a minute, we're not sure you can pay us back so we want more interest. pay us more interest to accommodate the risk. it is possible when they borrow this $500 million over the life of those bonds, the taxpay